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UK house prices rose to a record high for a second consecutive month in April, the Halifax said Monday, rising 8.2% y/y. The average property value across the country is now GBP258,204, up 1.4% m/m.
In cash terms, almost £20,000 has been added to the value of the average home since the market had essentially come to a standstill in April 2020, according to the Halifax managing director Russel Galley.
"The stamp duty holiday continues to add impetus to an extremely active market," Galley said, although he noted its influence "will fade gradually over the coming months as it's tapered out but low stock levels, low interest rates and continued demand is likely to continue to underpin prices in the market.@